SEWS Komponens invests 7.56 million euros in capacity expansion

Car parts manufacturer SEWS Komponens és Elektronika Európa is investing 2.75 billion forints to expand production capacity at its base in Mór, in western Hungary, with a 960 million forint grant from the government, Péter Szijjártó, the minister of foreign affairs and trade, said on Monday.

SEWS is receiving funding from a government’s scheme to help large enterprises improve their competitiveness, and the investment will help preserve 561 jobs, Szijjártó said.

The scheme as a whole has helped 71 companies located in Hungary invest 207 billion forints and preserve 61,600 jobs, he added.

The company will introduce a new product and expand production equipment in the framework of the investment project.

As we wrote yesterday, US information technology giant IBM is starting a 3.5 billion forint (EUR 9.7m) development of its IT centre in Székesfehérvár, details HERE.

Also we wrote about BorsodChem is investing EUR 33.2m at is base in Kazincbarcika, in north-eastern Hungary, saving some 3,000 jobs in the area. The Chinese company is expanding its annual manufacturing capacity of 200 kilotonnes by 90 kilotonnes, details HERE.

Source: MTI